Consumer behavior and Samsung's curved smart TV marketing strategy

Consumer Behavior: Samsung Curved Smart TV Product

Samsung is regarded as one of the most innovative and successful companies in the Information Technology industry because of its production of high-quality technological products that are affordable to many customers across the globe, especially in developing countries. The company has achieved tremendous success through the production of diverse technological products based on market needs and consumer demand. As part of its objective of maintaining its dominance in the IT industry and market, the company launched curved smart TV product for its premium market. The introduction of this product was fueled by its innovative practices and goals as well as the steady growth of its premium market in various market segments across the globe. Moreover, the introduction of the new curved smart TV product by Samsung was driven by the current trend of curved televisions. The ability of Samsung to achieve its objective of ensuring curved smart TV is a mass product with a niche market in the premium segment depends on consumer behavior towards the product.

Consumer Behavior

Consumer behavior can be described as the process of decision-making and physical activity that people engage in when assessing, obtaining, using or disposing some goods and/or services. In essence, consumer behavior entails a psychological or mental process and physical activity that influences a consumer's decision to buy certain goods and/or services. This implies that the real buying process is one of the steps in a range of psychological and physical activities that take place within a specific period of time. However, some of these mental and physical activities take place before the buying itself whereas others follow the actual buying process. Regardless of when they occur, the mental and physical activities are regarded as part of consumer behavior because of their ability to influence the adoption of products and services.

Similar to other marketers, consumer behavior is an important element for Samsung because it helps in gaining understanding on how consumers react to several marketing strategies adopted by the company. When launching the curved smart TV for its premium market segment, Samsung examined consumer behavior in order to identify better means for satisfying consumers by developing an appropriate marketing mix that meet the needs and requirements of customers. Through consumer behavior, the company obtained competitive advantages over its main rivals in this industry because the product is marketed using the most suitable marketing mix that meet consumers' needs and requirements. There are several aspects related to consumer behavior regarding Samsung curved smart TV including

Cultural or Sub-cultural Influences

Samsung's major strength of its high-end electronic products is the premium segments, which has experienced significant growth in the recent past largely because of the current trend in curved televisions. The premium segments play a crucial role in Samsung's productivity because of expected growth in ultra HD televisions and curved and large-screen televisions. With the anticipated decrease on profits from smartphones based on current conditions, the company has largely invested in the growth curved and large screens televisions as well as ultra HD televisions (Lee par, 10).

The main cultural influences on consumer behavior related to curved smart televisions includes income and social class. Given the price of the product, purchases of these televisions are largely among people with high income and those from middle or high social class. The prices of curved smart televisions produced by Samsung makes it affordable to people with a high income or those from middle to high social class. The product is only affordable to these people because they can easily pay the $500 to $600 premium that the company has placed on the series of its curved smart televisions. People from low social classes or those with low income cannot afford the product though they would like to own one. Therefore, the television's price tag is a major issue in influencing consumers' purchase decisions and makes the product affordable to certain groups of people and unaffordable to others.

As previously mentioned, Samsung curved smart televisions are designed and marketed for premium segments or markets. This implies that not every potential customer can purchase and own the product but only those within the premium segment. Moreover, the product appeals to the younger generation who find the product's features more appealing and attractive. The inclusion of Internet and high-end video and audio features are increasingly attractive or appealing to those below the age of 55 years.

In conclusion, consumer behavior is largely influenced by various factors including the product design, features, and costs. These factors play a crucial role in determining consumer's purchase decisions. Samsung curved smart television is attractive and appealing to various age groups and people but affordable to those within the premium market segment because of their high income and middle to high social status.